The weekly chart for the $Roundhill Magnificent Seven ETF(MAGS)$ ETF (Magnificent Seven) suggests the worst of the bearish move may be behind us. The lower Bollinger Band was breached and oscillators reached oversold territory, conditions that mirrored the April 2025 bottom.
As noted above, several securities have recently breached their Central Weekly Level (CWL) reversing from their (bearish) setups. This essential weekly price line is modeled every Friday for 44 core securities. Paid subscribers also have the exclusive benefit of suggesting five additional tickers from their personal watchlists each weekend.
For the coming week, the MAGS ETF must hold above $61.8 to maintain its current bullish reversal setup. A successful hold targets $63.5 as an immediate move, with potential for $64.4 if momentum builds. Conversely, if $61.8 is lost, the next destination is $60.9, representing a potential -2.7% selloff.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
-
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
-
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Comments
Great article, would you like to share it?